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AUD/USD pinbar shouldn’t deter bulls, USD/JPY gets whacked

It will likely take more than one bearish reversal candle to spoil the bullish trend structure of AUD/USD, and there's plenty of support nearby to excite dip buyers. USD/JPY has likely returned to a shell-socked state after a surge of volatility toppled the pair for a clear break below 160.

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July 12, 2024 08:40 AM

USD/JPY considers 162 ahead of US CPI, ASX 200 breaks out of compression

The ever-weaker yen allowed USD/JPY to drift higher for a third day, and now trades less than a typical day's range from the 162 handle - a level not tested since 1986. Wall Street indices reached record highs on dovish comments from Jerome Powell's testimony, and that bodes well for the ASX 200 today.

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July 11, 2024 09:01 AM
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AUD/USD snaps 4-day streak, ASX 200 remains confined to its range

Price action suggests AUD/USD may need to retrace before resuming its anticipated move to 68c. Jerome Powell speaks to the Senate banking committee, which could be a key driver for the USD dollar and therefor AUD/USD.

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July 9, 2024 09:15 AM

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Gold coils ahead of NFP, ASX looks set to retrace

Gold's rally paused for breath below resistance ahead of NFP, where volatility is expected. The ASX bumped its head at resistance and looks primed for a retracement lower during what could be a quiet session ahead of NFP.

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July 5, 2024 09:20 AM

USD index slumps as weak ISM gifts AUD/USD its breakout ahead of NFP

A softer-than-expected ISM services report was the gift that Fed doves have been waiting for ahead of tomorrow's NFP report. The USD index is now on track for a 3-week reversal pattern below resistance, and AUD/USD has broken out in style.

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July 4, 2024 08:10 AM
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Powell dangles a dovish carrot ahead of jobs, ISM: ASX 200, China A50

US yields were a touch lower with Jerome Powell saying that inflation is on the disinflationary path, ahead of key economic data from the US including ISM services, JOLTS and ADP employment reports. The ASX 200 and China look poised to move higher following a strong lead from Wall Street ahead of Independence Day.

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July 3, 2024 08:45 AM

USD/JPY takes 161, Bond yields rise on prospects of Trump round 2

Another day, another handle for USD/JPY which rose to a fresh multi-decade higher. Bond yields also continued to rally after the Biden-Trump debate, which has markets concerned that a more inflationary presidency under Trump seems the more likely outcome.


USD/JPY toys with fresh 38-year high ahead of PCE, Trump, Biden in focus

Japan’s officials would like to think they have slowed the decline of the yen to a degree on Thursday, following their latest threats of intervention. However, traders could simply be taking a cautious approach ahead of Friday’s US inflation report, which is keeping USD/JPY just below its 38-year high.


Hang Seng leads the way, ASX and China A50 set to follow?

The Hang Seng enjoyed its best day in three months. And with key support levels for the China A50 and ASX 200 holding, perhaps they can try to close the gap this week.

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158 continues to defy USD/JPY bulls, AUD/USD rebounds in style

Weak US retail sales alongside a relatively hawkish RBA statement gave AUD/USD a decent lift from range lows and further strengthened a case for a top to form on USD/JPY.

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June 19, 2024 09:35 AM

USD/JPY hints at another false break, AUD/USD looks set to bounce

The US dollar index formed a small bearish inside day after once again failing to hold onto gains above 105.20 for the second day in a row. This could allow for some mean reversion for soe of its FX peers, and for today we have a potential AUD/USD long and USD/JPY short in focus.

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AUD/USD looks set to pop higher, Nikkei and Nasdaq diverge

Forex markets mostly retraced against Wednesday's CPI and FOMC moves. And that may have set AUD/USD up nicely for a cheeky long into the weekend. The Nikkei however is down for a third day after failing below key resistance levels.

Forex trading

USD/JPY rattled within range post Fed, AUD/USD rallies with Wall Street

We expected a particularly volatile session on Wednesday, and it did not disappoint. Although not all moves were clear cut. New highs for Wall Street and a lower USD helped AUD/USD surge. Yet like USD/JPY, resistance looms.

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June 13, 2024 08:39 AM

USD/JPY, Nikkei pause at resistance as US CPI, FOMC looms: Asian Open

The next 24 hours will be the eight time in 10 years that a US CPI report lands on the same day as an FOMC meeting, and it has traders on tenterhooks. Today we look at USD/JPY, Nikkei 225 and the ASX 200.


AUD/USD climbs sheepishly from its lows, bear flag on ASX 200

Quiet trade (outside of euro pairs) allowed AUD/USD to drift higher despite the stronger USD. But with US CPI and FOMC looming, I doubt this is the ‘real move’ and further downside beckons.

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June 11, 2024 08:40 AM

ASX 200 looks set to benefit from Wall Street’s record highs: Asian Open

Soft employment data saw Wall Street march to a record high on bets of a soft NFP report, and that should filter through to gains for the ASX 200 today.

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June 6, 2024 09:02 AM

AUD/USD, AUD/NZD: EM, commodities, soft data drag on AUD into GDP, ISM

Commodities continued to feel the pressure of growth concerns, which weighed broadly on the Australian dollar. AUD/NZD managed to close beneath its 200-day and 200-week average on the same day and looks like it wants to text 1.07, although AUD/USD looks like it could muster a small bounce from current support levels.

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AUD/USD rises despite risk-off tone, USD, yields slammed post ISM

The USD and yields were knocked swiftly lower on Monday as evidence of an economic slowdown in the US continued to build, helping AUD/USD to head for 76c despite the risk-off tone to the session.

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June 4, 2024 07:51 AM

ASX 200, Nikkei 225 futures diverge from Wall Street: Asian Open

Downwardly revised GDP for the US in Q1 weighed on Wall Street indices ahead of a key inflation report, yet the ASX and Nikkei managed to bounce form their lows. We look at where we think they might head next.

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USD, Wall Street, gold: Risk seems to be falling apart at the seams

I suspect we're seeing the early moves of a pullback of appetite for risk in general, which saw traders push Wall Street indices and gold lower on Wednesday thanks to weak treasury demand. And it seems to be paving the way for the next leg higher for the USD.


USD/JPY breaks its latest glass ceiling, crude oil surges ahead of OPEC+

USD/JPY closed above 157 for the first time since the MOF last intervened, which brings 158 into focus for bulls. Crude oil also rose over 3% on Tuesday from arguably oversold levels.

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May 29, 2024 09:00 AM

AUD/USD, ASX 200 drift higher ahead of AU retail sales: Asian Open

Volatility levels were lower, as one would expect with the UK and US on a public holiday Monday. And that allowed AUD/USD to drift higher alongside the ASX 200 futures market, even if I do not fully trust the moves.

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May 28, 2024 09:05 AM

USD thrives, AUD/USD dives, flash PMIs up next: Asian Open

USD rallied against all FX majors except the pound on Wednesday following thanks to not-so-dovish FOMC minutes. AUD/USD now finds itself struggling to hold 66c.